HomeMy WebLinkAbout57-98 RESOLUTION•
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RESOLUTION NO. 5 7 - 9 8
A RESOLUTION AUTHORIZING THE MAYOR AND THE CITY
ATTORNEY TO APPROVE THE PURCHASE OF PROPERTY
LOCATED AT 125 WEST MOUNTAIN STREET (FORMERLY
TCA CABLE) FOR AN AMOUNT NOT TO EXCEED $277,000,
PLUS APPLICABLE CLOSING COSTS; AND APPROVAL OF A
BUDGET ADJUSTMENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE,
ARKANSAS*
Section 1. That the City Council hereby authorizes the Mayor and City Attorney to
approve the purchase of property located at 125 West Mountain Street (formerly TCA Cable) for an
amount not to exceed $277,000, plus applicable closing costs.
Section 2 The City Council hereby approves a budget adjustment in the amount of
$307,000 increasing Building Costs, Acct. No. 1010 6600 5804 00, Project No. 98081 1, and
decreasing Use of Fund Balance, Acct. No. 1010 0001 4999 99. A copy of the budget adjustment
is attached hereto and made a part hereof.
;PASSEDAND APPROVED this day of May , 1998.
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.1/4 y•,t,� r APPROVE,,A
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ATTEST: '
By: Set Aff/" _
Heather Woodruff, City Cler
By
red Hanna, Mayor
City of Fayetteville, Arkansas
Budget4ldjustMent Form
Budget Year
1998
Department:
Division:
Program:
General Government
Miscellaneous
Miscellaneous
Date Requested
April 22, 1998
Adjustment #
Project or Item Requested:
$307,000 is requested in the Miscellaneous
Program's Building Cost Account for the
purchase of property located at 125 West
Mountain Street. -
Project or Item Deleted:
$307,000 from the Use of Fund
Balance Account.
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Justification of this Increase:
Justification of this Decrease:
The funding will cover the purchase price
of $277,000 plus an additional $30,000 to
cover miscellaneous closing and renovation
costs.
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For 1997 there was an additional
savings in Unreserved Fund Balance
over what was projected in the 1998
Annual Budget.-
Account Name
Building Costs
Increase Expense (Decrease Revenue) i` t
Amount ita 'Account Number
307, 000` �>,;:1010 _ 6600 .. -.5804
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Po: ".tt}7n-.,, +-kAs: jjer cf!irt
.Projec Number
00 98081. 1
Account Name
Account Number
kr iv .
Project Number
Use of Fund Balance '307,000
-Approval Signatures
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'MS.Date.
Requested By
Bdget Office Use Only
41 -Lt 'erg
Date
Departme� t Director
Date
Date
Mayor l ate
Posted to General Ledger
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Posted to Project Accounting
Entered in Category Log
Blue Copy: Budget & Research / Yellow Copy: Requester
D:\DATA\FORMSBA-ADMADJF248.WKI
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